Federated Hermes (NYSE:FHI) Announces Quarterly Earnings Results

Federated Hermes (NYSE:FHI - Get Free Report) announced its earnings results on Thursday. The company reported $0.89 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.89, Briefing.com reports. Federated Hermes had a net margin of 18.58% and a return on equity of 26.76%. The company had revenue of $396.37 million during the quarter, compared to analysts' expectations of $400.26 million. During the same quarter in the previous year, the business posted $0.78 earnings per share. The firm's quarterly revenue was up 3.7% compared to the same quarter last year.

Federated Hermes Trading Down 4.0 %

Shares of FHI stock traded down $1.35 during trading hours on Friday, hitting $32.80. 1,794,066 shares of the company were exchanged, compared to its average volume of 773,635. The firm has a fifty day moving average of $35.59 and a 200 day moving average of $34.10. The company has a quick ratio of 1.89, a current ratio of 2.51 and a debt-to-equity ratio of 0.31. Federated Hermes has a 1 year low of $30.23 and a 1 year high of $42.57. The firm has a market cap of $2.77 billion, a PE ratio of 9.62, a PEG ratio of 0.82 and a beta of 1.12.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on FHI shares. TD Cowen assumed coverage on Federated Hermes in a report on Thursday, January 4th. They set a "market perform" rating and a $32.00 target price on the stock. JPMorgan Chase & Co. lifted their price objective on Federated Hermes from $46.00 to $47.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 17th. Royal Bank of Canada upped their target price on shares of Federated Hermes from $36.00 to $37.00 and gave the company a "sector perform" rating in a report on Monday, January 29th. Finally, UBS Group lifted their price target on shares of Federated Hermes from $37.00 to $39.00 and gave the stock a "neutral" rating in a report on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $38.50.

Insider Buying and Selling

In other news, insider Richard A. Novak sold 908 shares of Federated Hermes stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $36.07, for a total value of $32,751.56. Following the transaction, the insider now directly owns 49,068 shares of the company's stock, valued at approximately $1,769,882.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Meter Stephen Van sold 1,660 shares of the business's stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $36.15, for a total value of $60,009.00. Following the completion of the sale, the vice president now directly owns 31,689 shares in the company, valued at approximately $1,145,557.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Richard A. Novak sold 908 shares of the firm's stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $36.07, for a total value of $32,751.56. Following the transaction, the insider now owns 49,068 shares in the company, valued at $1,769,882.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 115,435 shares of company stock valued at $4,092,831. Insiders own 3.70% of the company's stock.

Federated Hermes Company Profile

Federated Hermes, Inc is a publicly owned investment manager. Through its subsidiaries, the firm provides its services to individuals, including high net worth individuals, banking or thrift institutions, investment companies, pension and profit sharing plans, pooled investment vehicles, charitable organizations, state or municipal government entities, and registered investment advisors.